According to multiple reports, there is a new form of card skimming called "shimming” that targets chip-based credit and debit cards. Although shimming fraud is rare, it is important to be aware of the risks and the steps you can take to minimize them.
A shimmer, when inserted into an ATM card-acceptance slot or point-of-sale device, sits between a card’s EMV chip and the device’s chip reader, allowing criminals to read the chip and steal card information. This new device is similar in nature to skimmers, which are illegally affixed to the slot of an ATM or point-of-sale system and secretly remove valuable card information from the magnetic stripe on cards.
Data collected by shimmers cannot be used to create a new chip-based card, but could be used to duplicate a magnetic stripe card. Although the data that is typically stored on a card’s magnetic stripe is replicated inside the chip on chip-enabled cards, the chip contains an additional security components not found on a magnetic stripe.
Here are a few steps you can take to minimize the success of shimmers and skimmers:
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